Treat your New Year’s resolutions like goals and then take regular action steps each day to help you reach your goals this year. It’s important to write your goals down and then take some action toward those goals. For instance, if you’re desire is to get out of debt, then you must write down how much debt you have and to whom that debt is owed. Then, look at your household budget, which is your income and then your expenses. Working within your budget, you’re looking for where you can cut expenses, so that you’ll have extra money to pay down debts. If there is no money left over, then you should consider filing bankruptcy to end to pain and suffering of being in debt without a way out. A Chapter 7 Bankruptcy case will get you a fresh financial start within 4 to 6 months without any payment plan.
Maybe you’ve worked your budget, but can only squeeze $100.00 a month to pay down your debts and you know it’s not enough to pay off your debts within five (5) years. There’s a second reason to consider a bankruptcy repayment plan under Chapter 13 of the Bankruptcy Code.
Whether you have no money or very little money in that budget, you can still get out of debt in less than five years by choosing your goal, talking with a professional that can help you get there and decide how quickly you want to get there. I recommend getting out of debt quickly to save for what really matters in life.